New Delhi: Debt-ridden Vodafone Idea Ltd said on Friday the Centre has ordered the company to convert into equity of interest for spectrum and adjusted gross revenue (AGR) dues owed to the government for use of airwaves, Reuters reported.
The total amount to be converted into equity shares is Rs 161.33 billion ($1.96 billion), the Indian mobile service provider said in a regulatory filing on Friday.
The company has been directed to issue 16.13 billion shares at a price of Rs 10 each, it added.
“Ministry of Communications passed an order today i.e. 3 February, 2023… directing the Company to convert the NPV of the interest related to deferment of spectrum auction instalments and AGR dues into equity shares to be issued to the Government of India,” the filing said.
New Delhi: In a major reform, the Income Tax Department will have the authority to check… Read More
Bhubaneswar: The day temperature touched 39 degree Celsius on Tuesday even before the onset of… Read More
Bhubaneswar: Odisha’s talented badminton players Pragati Parida and Vishakha Toppo have been selected to represent… Read More
Mumbai: Actors Katrina Kaif and Neil Nitin Mukesh’s on-screen chemistry in ‘New York’ was loved… Read More
Dubai: Team India broke a jinx by overcoming Australia and marching into the Champions Trophy… Read More
Mayurbhanj: A 40-year-old man on Tuesday surrendered before police in Odisha's Mayurbhanj district after allegedly… Read More
This website uses cookies.
